CETX - Why Cemtrex (CETX) Stock Is Down 75% | Benzinga

Cemtrex Inc (NASDAQ:CETX) shares are trading lower by 75% to $0.29 during Wednesday’s session after the company has announced a public offering with gross proceeds expected to be around $10 million, up from the initial $9 million. The offering includes common units or pre-funded units, each comprising common shares, warrants, and pre-funded warrants.

The company plans to use the funds for operational purposes, marketing, existing business investments, and debt repayment. They may also consider acquiring complementary businesses or technologies.

Aegis Capital Corp. has been granted an option to purchase additional shares and/or warrants. The closing of the offering is scheduled for May 3, pending standard closing conditions.

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